When Is a Statement of Advice (SOA) Required

question 12

Multiple Choice

When is a statement of advice (SOA) required?

• A) A financial planner must provide the client with a SOA at the same time as, or as soon as practicable after, the advice is provided.
• B) A financial planner must provide the client with a statement of advice SOA within 21 days after, the advice is provided.
• C) A financial planner is not under an obligation to provide written advice to the client.
• D) None of the above.

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Definitions:

Rituals

Prescribed procedures or ceremonial acts followed in a religious or secular context, often rich in symbolism and tradition.

Religiosity

The intensity, importance, or practice of religious beliefs and behaviors in an individual's life.

Opportunity

A set of circumstances that makes it possible to achieve something or a situation that offers the chance for progress or advancement.

Opium Of The People

A term used by Karl Marx, metaphorically describing religion's effect on people as a soothing but illusionary escape from their distress.